Suburb Profile Report for Richmond VIC (3121)

Richmond House: Median price $1,258,000, Annual capital growth 5.58%, Number of sales 218, Weekly median advertised rent $700

Richmond Unit: Median price $607,000, Annual capital growth 2.27%, Number of sales 301, Weekly median advertised rent $500

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for Jun 2020 as supplied by CoreLogic. Data is reported to the period ending Mar 2020. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

Richmond has had a pretty average year for property investment returns compared to the rest of VIC, giving investors a capital gain of 4.62% to date .

Richmond,3121 was ranked 2000 in Australia by increase in median property value over the quarter.

Richmond3121 is located in VIC which offers an average discount of -6.34% to property investors. Richmond itself is showing figures that indicate -6.14% is the average achievable by property buyers investing in the suburb.

Situated 3.57km from the CBD, Richmond is one of Yarra (C) localities in the postcode 3121.

Richmond is in the bottom 30% in VIC when comparing median price capital growth over the last year. Richmond gave property investors a disappointing capital gain figure when compared to the rest of the state, with 1.17%.

When looking at the potential capital gains offered to property investors over the last 3 years, Richmond comes in at number 246th in VIC.

Vendor discounting in Richmond is giving property investors an average Vendor Discount of around -5.68%. This puts suburb at number 128th in VIC when ranking the most discounted suburbs.

At number 136 in a list of fastest selling suburbs, Richmond is in the TOP 10% of suburbs in Australia with an average of days on market 48.9259 for properties listed there.

Situated 3.61km from the CBD, Richmond is one of Yarra (C) localities in the postcode 3121.

Metrics i HOUSE UNIT
$1,258,000 $607,000
1.04% 0.96%
4.62% 1.17%
5.58% 2.27%
$700 $500
218 301
2.89% 4.28%
45.078125 48.9259259259259

Source: Monthly data update for Jun 2020 as supplied by CoreLogic. Data is reported to the period ending Mar 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Above average (H), Above average (U)
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Demographics
Total population 23814
Median household income ($/weekly) 1697
Median age of persons 33
Median housing loan repayment ($/monthly) 2383
Average household size 2.1
  • Census Count Percent(%)
    20-24 years 1977 8.3
    25-34 years 7395 31.1
    35-44 years 4007 16.8
    45-54 years 2555 10.7
    55-64 years 2166 9.1
    Others 5714 24.0
    Age Group
    Census Count Percent(%)
    Not Married 9944 53.1
    Registered Married 5728 30.6
    Defacto Relationship 3065 16.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 14307 65.0
    Papua New Guinea 728 3.3
    United Kingdom 1001 4.5
    Viet Nam 1335 6.1
    Other 1405 6.4
    Others 3233 14.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 1859 8.8
    Christianity 10411 49.2
    Hinduism 239 1.1
    Islam 299 1.4
    No Religion 8057 38.1
    Others 277 1.3
    Religious Affiliation
  • Census Count Percent(%)
    $1,500-$1,999 1054 11.3
    $2,000-$2,499 806 8.7
    $2,500-$2,999 1288 13.8
    $3,000-$3,499 697 7.5
    $4,000 or more 802 8.6
    Others 4664 50.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 10339 52.3
    Not in the labour force 4879 24.7
    Employed, worked part-time 3202 16.2
    Employed, away from work 700 3.5
    Unemployed, looking for work 649 3.3
    Person Characteristics
  • Census Count Percent(%)
    Managers 2328 16.3
    Professionals 5626 39.5
    Community & personal service workers 1087 7.6
    Clerical & administrative workers 1935 13.6
    Sales 1128 7.9
    Others 2142 15.0
    Occupation
    Census Count Percent(%)
    Infants/Primary 863 19.5
    Secondary 652 14.7
    Technical or Further Educational Institution 540 12.2
    University or other Tertiary Institutions 1845 41.6
    Other type of educational institution 296 6.7
    Others 239 5.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Flat, unit or apartment 8020 37.1
    Separate house 7061 32.7
    Semi-detached, row or terrace house, townhouse 6405 29.7
    House or flat attached to a shop, office 106 0.5
    Improvised home, tent, sleepers out 4 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 5555 55.2
    Being purchased 2436 24.2
    Fully owned 2018 20.1
    Other tenure type 50 0.5
    Tenure Type
Census 2011, ABS
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